Empire State Realty OP, L.P.

Empire State Realty OP, L.P.

ESBA
Empire State Realty OP, L.P.US flagNew York Stock Exchange Arca
5.24
USD
-0.33
- -
1.40BMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
1.28
2.5
2.47
2.45
4.49
4.38
4.1
3.48
3.62
2.71
4.59
4.66
- -
4.02
Basic EPS, GAAP
0.82
0.27
0.29
0.38
0.74
0.7
0.46
-0.15
-0.1
0.22
0.5
0.46
- -
0.29
Free Cash Flow per Basic Share
-3.07
0.54
0.23
0.12
-0.18
0.22
-0.1
0.22
1.23
0.79
1.44
1.58
- -
1.21
Dividend per Share
0.72
0.34
0.34
0.41
0.8
0.75
0.71
0.35
0.17
0.14
0.23
0.23
- -
0.2
Book Value per Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Tangible Book Value per Share
0.82
1.96
1.87
4.03
7.07
6.83
6.19
5.11
4.96
3.21
5.7
5.93
- -
5.31
Basic Weighted Avg Shares
243
255
266
277
158
167
178
175
172
268
161
165
- -
194
Sales/Revenue/Turnover
312
635
658
677
710
732
731
609
624
727
740
768
768
779
Operating Margin (%)
19.82
22.78
23.05
27.16
27.19
26.09
21.15
10.65
13.92
17.47
19.84
20.67
17.66
17.9
Depreciation Expense
64
136
160
154
163
170
182
195
204
220
195
190
199
201
Net Income, GAAP
200
70
79
107
117
117
84
-23
-13
63
84
80
73
60
Effective Tax Rate (%)
- -
6.22
4.71
5.42
5.34
3.81
2.8
- -
- -
2.39
3.12
3.24
3.39
3.39
Profit Margin (%)
64.1
11.05
12.07
15.72
16.56
16.03
11.53
-3.76
-2.09
8.73
11.4
10.46
9.5
7.73
Working Capital
28
-7
-324
200
137
253
-129
77
282
114
178
328
-185
-175
LT Debt
1,338
1,738
1,439
1,432
1,491
1,707
1,473
1,810
1,976
1,904
1,893
2,115
1,958
1,958
Total Equity
1,003
1,381
1,373
1,983
1,978
1,991
1,948
1,731
1,684
1,683
1,731
1,782
1,822
1,824
Return on Invested Capital (%)
- -
4.97
4.64
5.13
4.93
4.77
3.93
- -
- -
3.09
3.56
3.7
3.07
3.32
Return on Capital (%)
- -
8.62
8.18
10.1
10.57
10.4
8.7
- -
- -
6.94
7.93
7.77
7.01
7.17
Return on Common Equity (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -

Capital Structure

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
269
482
427
LT Borrowings
1,789
1,890
1,892
LT Finance Leases
44
68
66
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
276
275
280
Market Capitalization
1,435
1,218
977

Working Capital

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
484
444
391
Cash, Cash Equivalents & STI
154
133
69
Accounts Receivable, Net
286
277
285
Inventories
- -
- -
- -
Total Current Liabilities
411
629
566
Payables & Accruals
112
120
112
ST Debt
269
482
427
Deferred Revenue
31
27
27

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
3.69%
1.05%
2.26%
Free Cash Flow
-47.07%
91.91%
-4.54%
Net Income, GAAP
-72.25%
-122.3%
-9.18%
Sales/Revenue/Turnover
1.87%
4.91%
0.05%
Total Cash Common Dividend
-3.34%
-2.91%
2.04%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
181
190
200
198
768
2025
180
191
198
199
768
2026
190
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.03
0.17
0.08
0.11
0.46
2025
0.06
0.06
0.07
0.18
- -
2026
0.01
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.04
0.06
0.04
0.04
0.23
2025
0.04
0.06
0.06
0.06
- -
2026
0.04
- -
- -
- -
- -

Company Description

APIChat
CEO
Anthony E. Malkin
Full Time Employees
667
Sector
Real Estate
Industry
REIT - Office
Address
111 West 33rd Street New York City NY United States of America 10120
IPO Date
Oct 2, 2013
Business
Empire State Realty OP, L.P. (ESBA) operates as the operating partnership subsidiary of Empire State Realty Trust, Inc., a New York City-focused real estate investment trust that owns, manages, operates, acquires, and repositions a portfolio of modernized office, retail, and multifamily properties in Manhattan and the greater New York metropolitan area; key assets include the flagship Empire State Building with its iconic observatory, One Grand Central Place, 111 West 33rd Street, 1350 Broadway, 350 Fifth Avenue, and additional properties such as retail collections in Williamsburg, Brooklyn, totaling approximately 7.8 million rentable square feet of office space, 0.8 million rentable square feet of retail space, and 743 residential units as of September 30, 2025. The partnership provides property management services, asset management, leasing activities, sustainability initiatives including energy efficiency retrofits and indoor environmental quality enhancements like IEQ Suites and TurnKey Suites, and observatories for public visitation, targeting corporate tenants, retail operators, and residential occupants with a focus on high-occupancy, amenitized spaces featuring amenities such as the 65,000 square foot Empire State Building Club Level. Founded in 2011 and headquartered at 111 West 33rd Street, 12th Floor, New York, New York, the company emphasizes leadership in carbon neutrality, having achieved it for its commercial portfolio through energy retrofits and offsets, alongside urban beekeeping partnerships and deep-energy retrofit playbooks co-developed with NYSERDA. Recent developments include the December 2025 all-cash acquisition of the Scholastic Building, adding roughly 368,000 square feet of office space and 28,000 square feet of retail with a 15-year lease to Scholastic and fully leased retail; third-quarter 2025 leasing highlights such as a 19,883 square foot renewal and expansion with Jencap Group at 1350 Broadway, a 16,402 square foot renewal with Haver Analytics at One Grand Central Place, and post-quarter expansions including 18,230 square feet with Gerson Lehrman Group and new retail leases to Rolex, HOKA, and Tecovas; and ongoing sustainability milestones like portfolio-wide carbon neutrality and bee hive installations with Alvéole.

Company News

APIChat
  • Empire State Realty OP (NYSE:ESBA) Stock Price Up 0.1% – Here’s Why

  • Empire State Realty OP (NYSE:ESBA) Trading Up 2.2% – Still a Buy?

  • New Trailhead For Empire State Trail Opens In Patterson

  • New York's Cuomo warns against 'blindly' reopening states

  • New York's Andrew Cuomo warns against 'blindly' reopening states

  • New York's Cuomo warns against 'blindly' reopening states

  • New York reports 299 new coronavirus deaths, ending six-day downward trend

  • Rick Scott hits back at Andrew Cuomo over bailouts: 'People keep leaving his state'

  • Congress ready to hit the skids again

  • <![CDATA[De Blasio roasted after shutting down rabbi’s funeral — Antibody tests offered for first responders — State paid $69M for ventilators that never came ]]>

  • <![CDATA[Back to the wealth tax]]>

  • Trump says US 'very close' to 5m daily coronavirus tests target despite country only doing 200,000 a day

  • Nearly Half of New York Breweries Say Their Businesses Could Close in 3 Months, According to Guild Survey

  • New York needs federal loan to pay state unemployment benefits

  • Greg Gutfeld slams dispute over state bailouts, says lawmakers 'falling back into the same mistakes'

  • Coronavirus-inspired SALT cap relief may incentivize more people to pay their taxes

  • <![CDATA[City and state pursue contact tracing strategies — Lockdown protests come to Cuomo country — City Council goes back to work remotely ]]>

  • U.S. Initial Jobless Claims Fall to 4.42 Million

  • BMO Capital Maintains Their Sell Rating on Empire State Realty (ESRT)

  • Living in America's heartland during a pandemic can be a blessing and a curse